I see many tutorials on how to make something slow motion, I understand fully how to do that. I'm a skateshop owner and have been filming recently, and have been teaching myself how to use Adobe Premiere Elements 4. I know how to make an entire clip slow motion, but I need to know how in the world do you make JUST a portion of a clip slow motion, or is it even possible in this program??? I've been racking my brain for days now, and I can't figure it out. help?

All that you need to do is use the Scissors Tool (Razor in PrPro) to "cut" your larger Clip where you wish to apply the Slo-Mo and then do the same, where you wish it to end. Apply your Effect, and you are done. Listen carefully to the Audio at that point, to make sure that there is not a problem with it.